Loan Agreed over the phone - rights to calls?

MaximusPrimal

Hi.

I took out a loan within the last 2 years. I am now looking to pay it off in full but feel it the redemption figure is high. The loan was largely agreed in a verbal contract phone call which took around 20 minutes. Because the redemption figures give a "Flat Rate" and not an apr, I would like to listen to the call where I agreed to the loan terms and conditions.

The call I know is the property of the loan company as they recorded it for "training and monitoring". I also know I have a right to have that call checked by them and also have a written transcript of the call provided (which they can charge me for).

What I do not know is if I have any rights to access a physical recording of the call? I.e do I have rights to have a copy put on CD and sent so *I* can hear it?

At the moment I am considering how best to approach this and just want to check my standing on this as I think initially the company will reject to having the call checked based on previous experience.

I would rather approach this knowing how I stand, than take a stab at it and be wrong.

Any ideas?
M

bigadaj

I'd simply request it under access rights legislation, under which they can charge.a few pounds. If you have ongoing problems then raise it as a dispute and after eight weeks you can go to the fos.

Tjrw1985

Yes you can request this be put onto a CD.

Although, as the phrase is "Call MAY be recorded" you may find at request they say they cannot find it.

the_insider

They won't give you it on a CD as you may be able to hear other customers' details being discussed in the background. Why do you need a recording of the call to find out what the APR is? Did you sign the T&Cs at the time of taking out the loan?

JuicyJesus

This is total codswallop. They would need you to sign a CCA agreement in order to lend you the money. You would have had the opportunity to inspect this before signing, and it would necessarily have to contain the interest rate, and various other pieces of pertinent information.

Guest101

Whilst the terms may have been discussed on the phone, the money would not be released until you signed a CCA agreement, that is the contract.

This can work for some things, like mobile phone contracts, because you sign over the phone.